Victory Capital Management Inc. Has $1.06 Million Holdings in Columbus McKinnon Co. (NASDAQ:CMCO)

Victory Capital Management Inc. decreased its position in shares of Columbus McKinnon Co. (NASDAQ:CMCO) by 11.7% in the 2nd quarter, Holdings Channel reports. The firm owned 30,600 shares of the industrial products company’s stock after selling 4,050 shares during the quarter. Victory Capital Management Inc.’s holdings in Columbus McKinnon were worth $1,057,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Innealta Capital LLC acquired a new position in shares of Columbus McKinnon in the 2nd quarter valued at about $41,000. TFO Wealth Partners LLC increased its holdings in Columbus McKinnon by 13,440.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,354 shares of the industrial products company’s stock worth $53,000 after purchasing an additional 1,344 shares in the last quarter. CWM LLC lifted its stake in Columbus McKinnon by 679.8% in the second quarter. CWM LLC now owns 1,817 shares of the industrial products company’s stock valued at $63,000 after buying an additional 1,584 shares during the period. nVerses Capital LLC acquired a new position in Columbus McKinnon in the second quarter valued at approximately $73,000. Finally, ProShare Advisors LLC acquired a new stake in shares of Columbus McKinnon during the 1st quarter worth approximately $226,000. Institutional investors and hedge funds own 95.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CMCO. JPMorgan Chase & Co. began coverage on shares of Columbus McKinnon in a research report on Tuesday, June 4th. They set an “overweight” rating and a $53.00 target price on the stock. StockNews.com downgraded shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd.

Columbus McKinnon Stock Down 3.1 %

Shares of NASDAQ:CMCO opened at $32.31 on Friday. The firm has a market cap of $932.43 million, a P/E ratio of 19.94 and a beta of 1.18. Columbus McKinnon Co. has a 52-week low of $29.26 and a 52-week high of $45.84. The business’s 50 day simple moving average is $34.02 and its two-hundred day simple moving average is $38.09. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.20 and a current ratio of 2.07.

Columbus McKinnon (NASDAQ:CMCO) last posted its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.01. Columbus McKinnon had a net margin of 4.52% and a return on equity of 9.50%. The business had revenue of $239.73 million during the quarter, compared to the consensus estimate of $241.25 million. During the same quarter last year, the firm posted $0.62 EPS. Columbus McKinnon’s revenue was up 1.8% compared to the same quarter last year. As a group, research analysts forecast that Columbus McKinnon Co. will post 3.02 EPS for the current fiscal year.

Columbus McKinnon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Friday, August 9th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend was Friday, August 9th. Columbus McKinnon’s payout ratio is presently 17.28%.

Columbus McKinnon Profile

Columbus McKinnon Corporation designs, manufactures, and markets motion solutions for moving, lifting, positioning, and securing materials worldwide. It offers manual, battery, electric, and air hoists; steel, rack, and pinion jacks; winches, hydraulic jacks and tools, trolleys and its clamps, and lifting tables; skates and heavy load moving systems; material handling equipment; mobile, workplace, and jib cranes; crane components and kits; and below-the-hook lifting devices, lifting slings, and lashing systems.